Thursday, October 7, 2010

Experts warned there was likely to be more declines to come after September's 3.6% drop in prices, which was the largest decline since Halifax began collecting figures in 1983.According to Britain's biggest mortgage bank Halifax price of a typical house has fallen from £ 168,124 in August to £ 162,092.

The decline will bring more homeowners closer fall in negative equity, where their mortgages are larger than the value of their homes